MCP invokes 1960s feminism and lacks the ring of BRIC, but the complex is starting to develop a true investor following. Mexico, Colombia and Peru all have their troubles and the latter is constrained by scale.

LatAm-targeted M&A reached $115.1 billion in the first half of 2010, which according to Dealogic, is the highest half-year volume on record for the region and more than double the first half 2009 trade of $40.7 billion.

Besides new Thai operations, Peru-based Ajegroup is modernizing and expanding in Mexico, Colombia, Ecuador and Peru. It is adding new products, bolstering marketing, and forecasting significant growth in Asia.